ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Average Rating of "Buy" from Analysts

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) has been assigned an average rating of "Buy" from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have covered the stock in the last year is $19.17.

Several equities research analysts have commented on the stock. Wedbush reiterated an "outperform" rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Thursday, March 20th. Oppenheimer dropped their price target on shares of ORIC Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th.

ORIC Pharmaceuticals Trading Down 2.2%

ORIC stock traded down $0.13 during trading on Friday, hitting $5.74. The company had a trading volume of 199,546 shares, compared to its average volume of 653,395. The firm has a market capitalization of $408.05 million, a price-to-earnings ratio of -3.15 and a beta of 1.37. The business has a 50 day moving average of $5.48 and a 200 day moving average of $7.87. ORIC Pharmaceuticals has a fifty-two week low of $3.90 and a fifty-two week high of $14.67.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.09. As a group, equities analysts predict that ORIC Pharmaceuticals will post -2.17 EPS for the current year.

Institutional Trading of ORIC Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in ORIC Pharmaceuticals by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company's stock valued at $5,788,000 after buying an additional 103,237 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of ORIC Pharmaceuticals by 6.9% in the 4th quarter. Wellington Management Group LLP now owns 186,430 shares of the company's stock valued at $1,504,000 after purchasing an additional 12,042 shares during the period. Diadema Partners LP acquired a new position in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $1,729,000. NEOS Investment Management LLC acquired a new position in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $367,000. Finally, Natixis acquired a new position in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $645,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

ORIC Pharmaceuticals Company Profile

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.